VEON (NASDAQ:VEON) Downgraded to “Hold” at StockNews.com

VEON (NASDAQ:VEON) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

VEON Price Performance

Shares of VEON stock opened at $23.07 on Wednesday. VEON has a one year low of $14.50 and a one year high of $26.68. The stock’s fifty day moving average is $24.08 and its 200 day moving average is $20.66. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.55.

Institutional Investors Weigh In On VEON

Institutional investors and hedge funds have recently bought and sold shares of the business. Exor Capital LLP grew its position in shares of VEON by 8.5% during the fourth quarter. Exor Capital LLP now owns 131,068,288 shares of the Wireless communications provider’s stock valued at $237,757,000 after purchasing an additional 10,282,470 shares in the last quarter. Allianz Asset Management GmbH grew its position in VEON by 1,979.1% in the first quarter. Allianz Asset Management GmbH now owns 5,498,638 shares of the Wireless communications provider’s stock worth $3,754,000 after acquiring an additional 5,234,162 shares in the last quarter. Shah Capital Management purchased a new position in VEON in the fourth quarter worth about $97,544,000. Gabelli Funds LLC boosted its position in shares of VEON by 7.7% during the first quarter. Gabelli Funds LLC now owns 3,678,223 shares of the Wireless communications provider’s stock valued at $2,511,000 after buying an additional 264,523 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of VEON by 167.0% during the second quarter. JPMorgan Chase & Co. now owns 3,258,461 shares of the Wireless communications provider’s stock valued at $1,499,000 after buying an additional 2,037,914 shares during the period. 21.30% of the stock is owned by institutional investors.

VEON Company Profile

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.